Yadav further accused the BJP of "using distractions" to avoid addressing real issues such as rising unemployment, inflation, lack of investment in Uttar Pradesh, and failing healthcare facilities.
Indian economy to grow at 6.3-6.8 pc in FY26, against 6.4 pc in FY25
'Each state is unique, but when it comes to finance, the fundamentals cannot be different.'
The Janata Dal (United), an ally of the ruling Bharatiya Janata Party (BJP), has sought an extension in the tenure of the Joint Parliamentary Committee (JPC) scrutinising the bills proposing simultaneous elections. The party argued that the committee, which has only met once, requires more time for extensive consultations. Meanwhile, the Lok Janshakti Party (Ram Vilas), another BJP ally, has demanded a "special industrial package" for Bihar, highlighting the state's low per capita income compared to the national average.
India will be the world's third-largest economy by 2028 as it becomes the world's most sought-after consumer market and gains share in global output, driven by macro stability influenced policy and better infrastructure, Morgan Stanley said. From a $3.5 trillion economy in 2023, the Indian economy is projected to expand to $4.7 trillion in 2026, which will make it the fourth largest in the world behind the US, China and Germany.
There is a reason this 11 year phenomenon is a rule as much as it is an observation. It speaks to the nature of man and what humans are like, explains Aakar Patel.
The per capita income of Indians as gleaned from income-tax filing is expected to increase from Rs 2 lakh in FY23 to Rs 14.9 lakh in FY47, coinciding with 100 years of the country's Independence, according to SBI Research. In dollar terms it will increase from about $2,500 in FY23 to $12,400 in FY47. Soumya Kanti Ghosh, group chief economic adviser, State Bank of India, said the weighted mean income was Rs 4.4 lakh in AY14. That rose to Rs 13 lakh in FY23.
'Maharashtra is virtually in a debt trap.'
Leaders who built and manage these incredible global companies cannot be tyrants, slave-drivers, or idiots. Essentially what they are saying falls under the definition of rallying the troops, inspirational talk, like the usual coach-speak with the team before a match, asserts Shekhar Gupta.
'Spend, but create assets, spend but make sure that people benefit from it.' 'This has been a beautiful guiding principle. And I think as a finance minister I owe so much to the prime minister for keeping this path clear before us.'
Edamame + truffle oil + basmati rice = an exquisite combo.
'It took us 75 years to reach a per capita income of $2,730.' 'According to IMF projections, it will take only five years to add another $2,000.'
The share of rent in consumption expenditure has risen to 6.58%, according to the Household Consumption Expenditure Survey 2023-2024. This is the highest it has been in surveys going back to the turn of the millennium.
The GDP growth is expected to be about 6.3 per cent in the current fiscal year, a tad lower than the government's estimate of 6.4 per cent, owing to several factors such as weak demand, SBI research report said on Wednesday. According to the first advance estimates (FAE) of National Income for 2024-25 released by the National Statistics Office (NSO), released on Tuesday, India's economic growth rate is estimated to slip to a four-year low of 6.4 per cent in 2024-25, because of poor showing by the manufacturing and subdued investments.
'I am optimistic about the Budget because of the fiscal discipline the government has committed to.'
'We face the risk of remaining a low-income country for a very long time unless something changes in the next few years.' 'Instead of constantly talking about becoming a developed economy, we need to start fixing the problems of the economy one by one.' 'There is so much potential, and we are squandering away the opportunity.'
State Bank of India (SBI), in a report on Friday, claimed a significant decline in the headline poverty ratio in rural areas on account of enhanced physical infrastructure, higher consumption growth in the bottom fractile and direct benefit transfers (DBTs).
'The shifts in US involvement in global conflicts and geopolitical alliances could introduce uncertainties.'
Haryana has done well in terms of economic growth over the last couple of decades. For it to continue to lead the growth ladder, the new government has to work hard on multiple dimensions, recommend Shishir Gupta and Rishita Sachdeva.
'Suddenly we had a new comprehension of affairs, which reminded that the luxury of politics floated atop a foundation by economics.' 'Along with this, finance ministers became crucial in molding the perception and reputation of Union Cabinets.' 'Governments couldn't afford a wrong person in that portfolio,' asserts Shyam G Menon.
The United Kingdom extracted USD 64.82 trillion from India over a century of colonialism between 1765 and 1900 and USD 33.8 trillion of this went to the richest 10 per cent -- enough money to carpet London in notes of 50 British pound almost four times over.
Schemes like the Mukhyamantri Majhi Ladki Bahin Yojana strain fiscal resources amid rising unemployment and prices of food items.
The VBL board approved the purchase of SBC Tanzania for Rs 1,304 crore and SBC Beverages Ghana for Rs 127 crore. These own manufacturing/distribution rights for NARTD (PepsiCo branded) beverages in Tanzania and Ghana. The acquisitions will help VBL gain ground in East and West Africa.
The outcome of Maharashtra state elections is unlikely to move markets much, said analysts. The markets, they believe, have bigger developments to worry about in the short-to-medium term.
Housing prices in India have fallen by over a tenth in real terms. Yet, prices are unaffordable for most Indians. Middle-income Indians are seen to be able to afford houses if the price-to-income ratio is five. It is 11 in India.
We no longer have the ambition to rival China save through words. We are happy to be fighting ourselves and digging up disputes from centuries ago as a substitute for real development, argues Aakar Patel.
FSN E-Commerce Ventures (Nykaa) hosted its annual investor day recently. The responses were positive from analysts. Although some analysts pared FY25 and FY26 estimates, the bulk continued to issue 'buy' calls after the stock rose 2.5 per cent. The management expects the Beauty & Personal Care (BPC) business to grow at a 25 per cent compound annual growth rate (CAGR) during FY24-28.
'We pressurised him (to accept the deputy chief ministership).' 'Being out of power would have made him weaker.'
India's per capita income grew by 10.5 per cent to Rs 44,345 in 2009-10 against Rs 40,141 in the year-ago period, according to government data.
India lags behind 132 countries in per capita income.
Households are likely to remain the primary net lenders to the economy in the coming decades.
Haryana is witnessing a multi-cornered contest this time, with the ruling Bharatiya Janata Party facing anti-incumbency and a resurgent Congress.
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Puducherry recorded the second highest per capita income in the country at Rs 1,75,006.
India has become the fourth largest economy in the world, yet it lags behind several nations in per capita income.
A freebie once granted can hardly be discontinued. All that can happen is to substitute it with a bigger freebie, notes A K Bhattacharya.
'Why has Maharashtra slipped up over the past couple of decades?' 'Not only is this question critical for residents of the state, but given that it accounts for 14% of India's GDP, a faster-growing Maharashtra implies a faster-growing India as well, point out Shishir Gupta and Rishita Sachdeva.
Even a whiff of an incident like the violent 1989 shirt-ripping attack on Krishnamachari Srikkanth by a Karachi spectator would be ruinous. It would set back the ties further, derail an ongoing tournament, and harden Indian attitudes on playing Pakistan anywhere at all, asserts Shekhar Gupta.
The push to develop Ayodhya as a tourism centre, accompanied by large-scale infrastructure projects, comes on the back of years of limited income growth and tourist inflows.
According to the World Bank, economic growth in middle-income countries, including India, is not accelerating. 'In fact, it is slowing down as incomes increase, with the trend becoming more pronounced each decade.'
Prime Minister Narendra Modi's goal of making India a high-income economy by 2047 is unlikely to be achieved, but the country should become an upper middle-income nation by then, Financial Times chief economics commentator Martin Wolf said on Friday. Wolf further said that India would also become a superpower by 2047. "India wishes to become a high-income country by 2047.
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